Dolby sees Q1 non-GAAP EPS 96c-$1.11, consensus $1.09

Reports Q1 revenue $330M-$360M, consensus $337.96M. Sees Q1 Licensing revenue $305M-$335M; Gross margins 87% on a GAAP basis and approximately 90% on a non-GAAP basis; Operating expenses $230M-$240M on a GAAP basis and from $190M-$200M on a non-GAAP basis; Effective tax rate 20.5% on a GAAP basis and 18.5% on a non-GAAP basis.